---
title: Why you should give your kids a regular “PayDay”
description: Here's how a regular PayDay can encourage money chats, build budgeting skills and help your kids fight the rise of instant gratification.
---

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# [Why you should give your kids a regular “PayDay”](https://learn.heykit.com.au/learn-it/why-you-should-give-your-kids-a-regular-payday)

 Written by [Yish Koh, Kit MD](https://learn.heykit.com.au/learn-it/author/yish-koh-kit-md) | Feb 20, 2024 11:34:58 PM

Here at Kit, we designed our pocket money Earn functionality with kid’s financial capability at  
the heart. As a result, we chose to deliberately create a regular allowance structure, rather  
than build jobs that could be paid for ad hoc.

- Here’s how a regular PayDay could help you build your child’s financial capability:  
  Walter Mischel, the psychologist behind the Stanford Marshmallow Experiment,  
  conducted research that shows that children who can delay gratification are more  
  likely to have higher savings, better credit scores, and lower debt levels in  
  adulthood1. Delayed gratification is like a muscle - the more you exercise it, the  
  stronger it gets. Having a regular pay structure means children are regularly  
  practising waiting and being rewarded at the end.
- Having a regular PayDay can encourage more frequent conversations about  
  money (which are shown to directly build financial capability), by providing a regular  
  'moment' where you can share your own money reflections, as well as celebrate what  
  your little grownup has earned (or reflect on what was tricky if not). Encouragement  
  helps your child build self-efficacy and a positive attitude toward money.
- A consistent pay structure helps your child to build skills in budgeting (and kids  
  learn by doing). A regular source of pocket money means regular decision-making on  
  whether to spend or save, and the ability to set savings goals and plans (e.g. save $5  
  a week). If they are short of money, they need to wait until the next pay period before  
  they have more to spend - and that is a valuable lesson. Younger children can start  
  with a weekly schedule, but as they become teenagers, you can extend it to  
  fortnightly, and then monthly. Before you know it, they are budgeting larger amounts  
  over longer time periods, just like adults.

We know that some parents want to pay children instantly for jobs done around the house.  
Kit supports instant payments through PayTo so as the Boss, you can make the right choice  
for your family.

1 Shoda, Y., Mischel, W., & Peake, P. K. (1990). Predicting adolescent cognitive and self-  
regulatory competencies from preschool delay of gratification: Identifying diagnostic  
conditions. Developmental Psychology, 26(6), 978–986.  
https://doi.org/10.1037/0012-1649.26.6.978

Also:Chabris CF, Laibson D, Morris CL, Schuldt JP, Taubinsky D. Individual laboratory-measured  
discount rates predict field behavior. J Risk Uncertain. 2008 Dec 1;37(2-3):237-269. doi:  
10.1007/s11166-008-9053-x. PMID: 19412359; PMCID: PMC2676104.  
[https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2676104/](https://www.ncbi.nlm.nih.gov/pmc/articles/PMC2676104/)

Read the T&Cs, FSG, PDS and TMD at [http://heykit.com.au/legal](http://heykit.com.au/legal) and consider if Kit is right for you. Issued by Hay Limited. Fees and charges may apply. Any advice given is general in nature.

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